CE/CPE Course Information

Audit Planning and Risk Assessment for External Auditors

CPE Credits: 4
Subject Area: Accounting and Auditing
Field of Study: Auditing
Program Level: Overview
Delivery Method: QAS Self-Study
Lesson Version: 20-1
Publication/Revision Date: April 11, 2024
Prerequisites/Advanced Preparation: None
Written By: William A. Hillison, Ph.D., CPA, CMA

Learning Objectives	After completing this course, you will be able to Determine whether the requirements for pre-engagement acceptance have been met Recognize the elements of an overall audit strategy and audit plan Obtain an understanding of the entity and assess risks Identify the components of audit risk and materiality and their effects on the application of GAAS in financial statement audits Identify appropriate sources of information to develop expectations for applying analytical procedures Recognize the definition of audit data analytics and the steps in applying them Answer technical questions about the auditor’s responsibilities for detecting fraud and noncompliance with laws and regulations Discern sufficient appropriate audit documentation
Course Topics	Pre-Engagement Acceptance Activities (AU-C 210 and AS 1010) Planning an Audit (AU-C 300, AS 2101, and AS 1210) Understanding the Entity and Assessing Risks (AU-C 315 and AS 2110) Audit Risk and Materiality (AU-C 200, AU-C 320, AU-C 450, AS 1101, and AS 2105) Analytical Procedures and Audit Data Analytics (AU-C 520 and AS 2305) Consideration of Fraud in a Financial Statement Audit (AU-C 240 and AS 2401) Consideration of Laws and Regulations in an Audit (AU-C 250 and AS 2405) Audit Documentation (AU-C 230 and AS 1215)

Learning
Objectives

After completing this course, you will be able to

Determine whether the requirements for pre-engagement acceptance have been met
Recognize the elements of an overall audit strategy and audit plan
Obtain an understanding of the entity and assess risks
Identify the components of audit risk and materiality and their effects on the application of GAAS in financial statement audits
Identify appropriate sources of information to develop expectations for applying analytical procedures
Recognize the definition of audit data analytics and the steps in applying them
Answer technical questions about the auditor’s responsibilities for detecting fraud and noncompliance with laws and regulations
Discern sufficient appropriate audit documentation

Course Topics

Pre-Engagement Acceptance Activities (AU-C 210 and AS 1010)
Planning an Audit (AU-C 300, AS 2101, and AS 1210)
Understanding the Entity and Assessing Risks (AU-C 315 and AS 2110)
Audit Risk and Materiality (AU-C 200, AU-C 320, AU-C 450, AS 1101, and AS 2105)
Analytical Procedures and Audit Data Analytics (AU-C 520 and AS 2305)
Consideration of Fraud in a Financial Statement Audit (AU-C 240 and AS 2401)
Consideration of Laws and Regulations in an Audit (AU-C 250 and AS 2405)
Audit Documentation (AU-C 230 and AS 1215)

This QAS self-study course consists of an Audiovisual presentation, a Knowledge Transfer Outline with multiple-choice questions for study and review, and a Qualified Assessment of 20 questions.

This course is designed for your convenience. You may log out at any time during the course; your current position and all work will be saved. The next time you log in, you can resume right where you logged off.

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For more information regarding administrative policies such as complaints and refunds, please contact our CPE Department at (800) 874-5346 ext. CPE (273).

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